Televisa plans $2 billion AT&T Mexico acquisition with Fintech
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The Knot Worldwide agrees to buy Zola, sources say
Zola would remain a standalone brand in the Permira-owned group's portfolio. Financial terms were not immediately available.
The Knot Worldwide has reached an agreement to acquire wedding-planning rival Zola, two people familiar with the transaction said on October 14. The acquisition would bring the Permira-owned company's brand count to 14.
The people said Zola would retain its identity as a standalone brand within the group. Completion depends on customary conditions and any necessary regulatory approvals. Neither company nor Permira would comment, and the transaction's financial terms were not immediately available.
Both businesses provide services for couples organizing weddings. The Knot connects users with local vendors and offers personalized wedding websites. Zola's services include wedding websites, registries, invitation design and tools for managing guest lists.
Zola began operating in 2013. In 2018, it raised $100 million through a Series D round at a reported valuation of around $600 million. Existing backer Comcast Ventures led the financing, joined by new investors NBCUniversal and Goldman Sachs Investment Partners. Co-founders Shan-Lyn Ma and Nobu Nakaguchi remained significant owners.
The Knot dates to the 1990s, and Permira's investment began in 2018. The company appointed former Etsy executive Raina Moskowitz as CEO to help reorganize its operations and introduce new artificial intelligence tools.